(Adds investment forecasts)
OSLO, Nov 21 (Reuters) - Norwegian oil and gas investments
will probably hit a five-year high next year, extending a
recovery that has boosted the economy, a survey by Statistics
Norway (SSB) showed on Thursday.
The closely watched forecasts, based on data from oil and
gas companies working in Norway, showed 2019 and 2020 investment
plans had been raised since August.
Norway's central bank raised interest rates four times since
September 2018, as oil investment rebounded from a 2015-2017
slump, but it has since put monetary policy on hold.
Oil industry investments are now seen at 182.9 billion
Norwegian crowns ($20.0 billion) in 2019, up from the 181.7
billion crowns forecast in August, SSB said.
In 2020, investments are projected to be 182.6 billion
crowns, higher than the 174 billion crowns seen in August, it
said, saying this could rise further in coming quarters as more
project plans were added.
($1 = 9.1428 Norwegian crowns)
(Reporting by Terje Solsvik; Editing by Nerijus Adomaitis and
Edmund Blair)